In my experience desirable locations in the city are equally as expensive as Henrico, more expensive than Chesterfield and Mechanicsville.

Moved into Bellevue 2 years ago and absolutely love the neighborhood. Although at this point 300k gets you a 1100sf 2 bedroom 1 bathroom house. 400k for 3 bedroom 2 bathroom 1400sf. Great yards for dogs too. You can go a little north to lakeside and find better deals.